Bloomberg:
- China's government said it may restrict its textile exports to the US, similar to caps it put on exports of the products to the European Union last month to help resolve trade friction with the US.
- Confidence about the prospects of the global economy has declined 10%, citing a survey of international company executives by management consulting firm McKinsey.
- The yen weakened against the dollar for a third day in Asia on speculation China will delay any further revaluation of the yuan, restricting the benefit to the competitiveness of Japanese exports.
- Australian Prime Minister John Howard met his nation's troops and Iraqi Prime Minister Ibrahim al-Jaafari in an unannounced seven-hour visit to Iraq.
AP:
- Jane Fonda, the actress who in 1972 posed on a North Vietnamese anti-aircraft gun, plans in March to launch a bus tour across the US to call for an end to US military operations in Iraq.
Financial Times:
- The European Commission will propose that banks register personal details of anyone making money transfers into or out of the European Union as part of an effort to stop funding for terrorism.
Guardian:
- Revenue from sales of computer games to be played on cell phones will increase to $11 billion by 2010, compared with $2.6 billion this year, citing a report by Informa Telecoms & Media.
London-based Times:
- UK Prime Minister Tony Blair's popularity has increased in the wake of the terrorist attacks in London, citing a Populus survey commissioned by the newspaper.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on RE and BLS.
- Reiterated Underperform on ASH, AVB and CR.
Night Trading
Asian Indices are -.25% to +.25% on average.
S&P 500 indicated -.01%.
NASDAQ 100 indicated +.12%.
Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Before the Bell CNBC Video(bottom right)
Global Commentary
Asian Indices
European Indices
Top 20 Business Stories
In Play
Bond Ticker
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/EPS Estimate
ADP/.44
AFL/.64
AMZN/.10
BIIB/.36
BJS/.60
CTX/1.69
CME/2.38
GLW/.18
ERTS/-.24
IMCL/.33
INSP/.38
LXK/1.06
LMT/.83
MHS/.58
HOT/.65
TDW/.46
VLO/2.95
VZ/.64
Upcoming Splits
None of note
Economic Releases
- Consumer Confidence for July is estimated to rise to 106.3 versus 105.8 in June.
BOTTOM LINE: Asian indices are mostly lower on worries over earnings in the region. I expect US equities to open modestly higher, spurred by tech shares. The Portfolio is 75% net long heading into the day.
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